Conti to Implement Cost Reduction Programmes
In light of slowing world markets, as highlighted by the company’s latest quarterly financial figures, Continental is cutting back production at a number of its facilities. Amongst the measures to be introduced to this effect are a shortening of the working week, a prolonged end of year shutdown period, and a reduction in the number of temporary employees on the company’s payroll.
“Continental is well prepared for the difficult challenges ahead,” said Executive Board chairman Dr. Karl-Thomas Neumann. “Nonetheless, we have initiated additional programmes to cut costs. For instance, in the Automotive Group we will reduce the number of temporary workers, greatly lengthen the plant holiday shutdown period at the end of the year by using the existing work time accounts, and, depending on the location and the order situation, deviate downwards from the five-day-week until further notice. Furthermore, we are putting investments that are not urgent on hold,”